St. Paul daily globe., 1887-10-22
TRADE REVIEW.
The Situation as Summed Up by
II. G. Dun & Co.

Inc SECuatfOn dS SuuiihCO Up DY
II. G. Dun & Co.
Special to the Globe.
New YORK, Oct. 21.-R. G. Dun &
Co.'S weekly review of trade will say:
The markets show the influence Of two
powerful opposing forces-a great ex-
pansion of currency with ease follow
ing the stringency in the money mar
kets of the chief cities tends.tO liftpmces
and revibeS speculation. But a shrink
age in demand for many products, the
natural result of the partial failure of
the crops, makes distribution less active
and collections less prompt than many
expected, while losses in past Specula-
tiOns and the beginning of the reasf.tipn
in real estate make the prospect less IA
vorable in some sections. The improve
ment in prices, for which men looked in
vain week ago, has appeared in sew
eral markets. Stocks sank last Satur-
day to the lowest average for seventeen
months, but have improved cOnsidera-
bly, during the week. Wheat has risen
81 cents. Speculation is growing active
at Chicago again. Corn has advanced
about cent, though hogs and pork
products have slightly declined.
Cotton is shade higher,
with large speculative purchases.
based on reports of damaging frostS.
Oil has risen 8 cents. Sugar is made
strong by the formation of a trust to
control refining. Wool is more firm,
better, and prices of cattle are shade
higher. Coffee fell to 10 cents Wednes-
day, but has recovered slightly. Copper
is an eighth lower, but tin has advanced
with much excitement. Looking to
leading branches of trade and industry
outside of speculative markets we find
signs of
DECREASING CONSUMPTION.
Steel rails continue weak, and the
fact comes out that orders for 1888 de-
livery thus far cover only 1900 tons
new business. At Pittsburg the de-
mand is almost nil, and pig iron is
weaker. The reasoning that shrinkage
III railroad consumption will be COM
pensated by larger use in other direc-
tions is met by the prospect that build
ing OF all sorts has gone on at such a
rate that reaction is probable, and the
abatement of real estate speculation at
many points checks further cOnstruc-
ton for the time. Wool sales continue
40 per cent. below those of last year at
Boston, and the goods trades offer no
promise OF lmprOveme mt to manufacture
ers. Dry goods are moderately active for
the season, and some kinds of cotton
goods have been advanced, but in other
quarters distribution is found less
prompt than was expected. Print
cloths are lower at 3Sl cents, and for
eign goods move slowly in all depart
ments. The grocery trade shows the
effects of shrinking demand in several
branches, and the outlook is not re-
garded as entirely satisfactory. Butter
is weak and unsettled. Coffee hesitates
in part because distributions have not
yet met expectations.
SPICES ARE DULL
for the same reason, and teas weakened
by accumulation of stocks. The boot
and shoe trade is satisfactory. Good
buying and good paying are noted. The
Northwestern lumber business is made
more active by reduction of rail rates,
and the flour movement at Minneapolis
is large. Coal consumption in Septem-
Der was also much larger than in the
same month last year, but the Lehigh
strike continues. A large strike of
shoemakers at Philadelphia has COM
menced, and the labor disturbances are
growing more frequent. Interior towns
generally report slow collections,
though
New Orleans and a few other points.
Money is still tight, Or decidedly close,
at many Western cites and closer than
before at Chicago with continuing
movement to the country. While trade
is generally reported large in volume,
and exchanges continue larger than last
year the slowness of the collections in
dicates less satisfactory distribution
than was anticipated. The treasury
still puts out money through deposits
with banks and after taking large
amount Of bullion, holds but s4OO.0CO
more cash of all kinds than a week ago.
Then New York banks find that the
drain of money to the interest has not
yet ceased as was expected. Foreign
trade for October shows an increase of
2.S per cent. in exports and per cent.
in imports, but the movement of Secur-
tiles upon which the monetary future
largely depends, has been for the past
week variable and uncertain. Business
failures for the United States and Cam
ada during the last seven days number
201, compared with 1913 in the corres-
ponding week last year.